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Investor cancels capital infusion for Republic First

American Banker

Citing missed deadlines for an annual meeting and key regulatory filing, the Norcross-Braca group has called off a plan to invest $35 million in the Philadelphia bank.

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Banks and CDFIs: Partnering for community impact

Abrigo

And to thrive, those customers need economically diverse and healthy communities in which to live and work. Partnering with local organizations to promote the health of those communities is often a top priority for banks. Most commonly structured as revolving loan funds, CDFIs intermediate capital between investors and underserved U.S.

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Republic First to partner with activist investors in new capital raise

American Banker

A proposed settlement between the Philadelphia-based community bank and an activist investor group that has waged a nearly two-year battle for control also calls for overhauling the board of directors.

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Community banks most likely to approve small business loans

Abrigo

According to a recent survey from four Federal Reserve Banks, small regional and community banks have the highest approval rate for small business loans. The 2014 Small Business Credit Survey was a joint operation conducted by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia.

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Philadelphia Fed brings enforcement action against Quontic Bank

American Banker

Under a written agreement, Quontic pledged not to distribute capital without the permission of its regulators. It's the third enforcement action in five years against the small New York-based bank.

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Philly Consortium Advances ‘Regenerator’ Concept For SMBs

PYMNTS

Put forth by a consortium of Philadelphia-area advocacy groups and academics, a Regenerator is a kind of public-private partnership that will coordinate available resources and find new ones to help individual businesses survive. “As The federal role will extend beyond capital,” Katz noted. And that access to capital is critical.

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The benefits of micro-lending programs

Independent Banker

These community banks are working to fix that through microlending programs. Now, some community banks are launching microlending programs to redress the balance. That realization sparked the idea at Summit Bank to create a microloan program that would target underserved groups in its communities. By Beth Mattson-Teig.

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